There are now many online sportsbooks that accept Bitcoin as a valid form of payment thanks to the remarkable rise of the digital currency. You can now bet on poker, sports, slots and live dealer games on a wide range of sites using Bitcoin. Some are specifically set up to with Bitcoin in mind, while most established, reputable sites have adapted their offerings to accept Bitcoin and made it a big part of their business models. It is always best to bet with an established online sportsbook that has a long history of paying out promptly and has the liquidity to cover your bets, so we have rounded up some top-rated sites and the experience of using Bitcoin with them and discussed the advantages of using Bitcoin as opposed to more traditional currencies when betting on sports or poker:
BetOnline has been operating since 2001 and added Bitcoin as a payment method in May 2015. You can obtain the wallet address from the deposit page on the site and send your stake via your wallet. Using Bitcoin on the site is pretty much the same as using any other currency: you can bet anything from the Bitcoin equivalent of $20 up to $3,500, there is a standard 15-minute wait time for validation and a 48-hour wait on withdrawals. No fees are placed on Bitcoin deposits, but it takes a 2% withdrawal fee.
Bovada joined the Bitcoin party a year later, in May 2016, but it has several advantages: there is no fee for deposits or withdrawals, the limits are higher ($5,000 for deposits, $9,500 for withdrawals), the validation time is shorter (typically just two minutes), and you get a $250 bonus on unlimited Bitcoin deposits. You can only withdraw Bitcoin if you staked Bitcoin, and if you deposit Bitcoin, you cannot withdraw winnings in a different currency. Mobile users can scan a QR code using an app in their Bitcoin wallet to deposit.
5Dimes is one of the oldest and most reputable sportsbooks, and it added Bitcoin payments to its offering in November 2014. The deposit process is the same as Bovada and BetOnline, and you can deposit anything from $25 to $10,000 equivalent in Bitcoin. The wait time for validation is up to 40 minutes.
Interop’s, the world’s oldest sportsbook, has been operating Bitcoin since December 2015, but it is a bit more complicated to deposit Bitcoin on the Intertops site. First, you have to register with blockchain.info, and once you have an account there, you can transfer funds from your personal wallet and get started. There are no fees, and funds will be credited within 48 hours.
Each sportsbook that accepts Bitcoin has its rules and features, so you have to weigh these up against the more traditional concerns – like how attractive the odds are, whether it offers in-play betting, security and so on – before deciding which sportsbook that accepts Bitcoin to play with. But overall using Bitcoin is a simple, speedy and efficient way to bet online. It often speeds up the time it takes you to get paid out, which is a huge bonus. Another advantage is that it is virtually anonymous, which is a massive draw for sports fans in unregulated markets like the USA. There are very few downsides to using Bitcoin for sports betting online – you just have to make sure you register with a reputable, established bookmaker that offers decent odds, high customer service, and proper liquidity and then you can start enjoying the benefits.